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aooK 95 F'".169® <br />RESOLUTION NO..95- 83 <br />A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA AWARDING THE <br />SALE OF $15,000,000 GENERAL OBLIGATION BONDS OF INDIAN <br />RIVER COUNTY, FLORIDA; RATIFYING PREVIOUS ACTIONS TAKEN <br />BY THE DIRECTOR OF MANAGEMENT AND BUDGET IN CONNECTION <br />THEREWITH; APPROVING THE MATURITIES AND OTHER TERMS OF <br />SUCH BONDS; AUTHORIZING THE PURCHASE OF MUNICIPAL BOND <br />INSURANCE; SUPPLEMENTING RESOLUTION NO. 95-63 TO PROVIDE <br />ADDITIONAL COVENANTS RELATING TO MUNICIPAL BOND INSURANCE <br />APPLICABLE TO THE BONDS; AMENDING CERTAIN COVENANTS TO <br />PROVIDE CONTINUING DISCLOSURE CONTAINED IN RESOLUTION NO. <br />95-75; PROVIDING CERTAIN OTHER MATTERS IN CONNECTION <br />THEREWITH; AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, on May 16, 1995, the Board of County Commissioners of <br />Indian River County, Florida (the "Issuer") adopted Resolution No. <br />95-63 (the "Resolution") to provide for the -issuance of not to <br />exceed $26,000,000 General Obligation Bonds of Indian River County, <br />Florida payable from ad valorem taxes levied by the Issuer; and <br />WHEREAS, pursuant to Resolution No. 95-75, the Issuer provided <br />for the public sale of $15,000,000 of such General Obligation Bonds <br />(the "Bonds") pursuant to an Official Notice of Bond.Sale; and <br />WHEREAS, Resolution No. 95-75 delegated certain responsibili- <br />ties in connection with the award and issuance of such Bonds to the <br />Director of Management and Budget, and the Issuer wishes to ratify <br />the actions taken; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD, OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA as follows: <br />SECTION 1. In accordance with the provisions of Resolution <br />No. 95-75, the Issuer published a Summary Notice of Sale in The <br />Bond Buyer and distributed an Official Notice of Bond Sale calling <br />for bids to be received by 11:00 a.m., E.D.T. on July 11, 1995. <br />Such action is hereby ratified and confirmed. <br />SECTION 2. In accordance with the provisions of Resolution <br />95-75 the Director of Management and Budget accepted the bids <br />submitted pursuant to the Official Notice of Bond Sale, and at the <br />hour stated in said Official Notice of Bond Sale, bidding was <br />closed and the bids attached as Exhibit A to this Resolution were <br />found to have *been 'filed and to comply in- all respects with the <br />terms of the said Notice of Bond Sale. The Official Notice of Bond <br />Sale set forth the maturities, subject to adjustment as provided <br />therein, and redemption provisions for the Bonds, and such <br />maturities, as may have been adjusted, and redemption provisions, <br />are hereby ratified and approved. <br />SECTION 3. The bid offering to purchase said Bonds at the <br />lowest true interest cost in accordance with the Notice of Bond <br />.Sale was the bid of (the "Purchaser") <br />offering to purchase the Bonds for $ , plus accrued <br />interest. The bid of the Purchaser is hereby accepted and <br />$15,000,000 Indian River County, Florida, General Obligation Bonds, <br />Series 1995 are hereby awarded to the Purchaser at the price <br />offered for the Bonds, bearing interest at the rates set forth in <br />the bid attached hereto as part of Exhibit A. <br />JULY 119 1995 46 <br />